California revenue in September beat estimates by 14.4 percent, while year-to-date spending also exceeded projections
/PRNewswire-HISPANIC PR WIRE/ — State Comptroller Malia M. Cohen published the California monthly cash reportcorresponding to September 2026, which shows that the state’s General Fund revenues totaled $22.9 billion dollars during the month, exceeding the projections of the 2026-27 Budget Act by $2.9 billion dollars, or 14.4%.
September’s higher-than-expected revenue was boosted by higher collections in the state’s three main tax categories. Corporate tax collections exceeded Budget Act estimates by $1.4 trillion, or 52.1%, while personal income tax revenues were $1.1 trillion, or 8.0%, above projections. Sales and excise tax collections also exceeded expectations by $156 million or 5.5%.
“California’s revenues are exceeding expectations, which is encouraging news. However, higher revenues do not tell the whole story. State spending is also exceeding projections and we must not lose sight of the fiscal challenges ahead,” stated Comptroller Cohen. “We must maintain discipline, protect our reserves and ensure that California can meet its financial obligations while continuing to provide the services that millions of Californians depend on.”
While revenues exceeded expectations, state outlays also continued to exceed budget projections. Through September, the total disbursements accumulated in the year stood at $11.8 billion dollars, or 13.3% above the estimates of the 2026-27 Budget Law. Spending on state operations exceeded projections by $4.3 billion, or 29.4%, while disbursements for local assistance were $4.1 billion, or 6.2%, higher than expected. As of September 30, 2026, the General Fund reported accumulated outstanding loans of $326.4 million through domestic borrowing and an ending cash balance of $0.0 billion.
Notes to the editor on the figures: This text retains the original term «billion». This word belongs to the international short scale. It is equivalent to one billion in the Spanish-speaking system (long scale). Numerically represents the figure (1,000,000,000).
As DirectorFiscal to the world’s fourth largest economy, California State Comptroller Malia M. Cohen independently oversees and manages the state’s financial resources with integrity and transparency to build trust. Comptroller Cohen is responsible for the accountability and disbursement of state financial resources and has independent authority to audit government agencies that use state funds. The comptroller is a member of numerous financial organizations and tax and financial oversight entities, including the Franchise Tax Board(FTB). He also sits on the boards of directors of the country’s two largest public pension funds. Follow the Comptroller on X, Facebook, YouTubea @CAControllere Instagramand @CaliforniaController.
FUENTE California State Controller’s Office